Online video is the fastest-growing segment in the digital advertising sector. The online video ad market in the US is projected to grow 33.8% this year to $7.7 billion, according to eMarketer. By 2019, US advertisers will be spending $14.4 billion on online video ads, eMarketer predicts.

The photo-sharing app has been ramping up its monetization efforts recently. Last month it rolled out a new advertising product called Sponsored Lenses, giving marketers the chance to put their brands alongside people's selfies. Earlier in October it opened up the ability for brands to buy sponsored channels within its Discover content section.

Snapchat is currently on the hunt for a UK head to lead its European sales operation. The company hired its first employees for its new London office last month, Business Insider revealed.